1,756 Shares in Elevance Health, Inc. $ELV Acquired by Trexquant Investment LP

Key Points

• Trexquant Investment LP has acquired 1,756 shares of Elevance Health, Inc., valued at approximately $764,000, marking the firm’s new position in the company as disclosed in a 13F filing.
• Elevance Health announced a quarterly dividend of $1.71 to be paid on September 25th, representing an annualized yield of 2.2% with a dividend payout ratio of 29.11%.
• Elevance Health's stock recently traded at $313.79, with a notable 14.3% year-over-year revenue increase, despite reporting earnings per share of $8.84 that missed analyst expectations.

Trexquant Investment LP bought a new position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 1,756 shares of the company's stock, valued at approximately $764,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Private Wealth Management Group LLC lifted its position in shares of Elevance Health by 152.0% during the 1st quarter. Private Wealth Management Group LLC now owns 63 shares of the company's stock worth $27,000 after buying an additional 38 shares during the period. Riverview Trust Co lifted its position in shares of Elevance Health by 1,340.0% during the 1st quarter. Riverview Trust Co now owns 72 shares of the company's stock worth $31,000 after buying an additional 67 shares during the period. North Capital Inc. bought a new position in shares of Elevance Health during the 1st quarter worth approximately $36,000. Orion Capital Management LLC bought a new position in shares of Elevance Health during the 4th quarter worth approximately $39,000. Finally, Berbice Capital Management LLC bought a new position in shares of Elevance Health during the 1st quarter worth approximately $43,000. Institutional investors own 89.24% of the company's stock.

Elevance Health Stock Up 1.9%

NYSE ELV opened at $313.79 on Monday. The stock has a fifty day moving average of $312.04 and a 200-day moving average of $373.20. The stock has a market capitalization of $70.66 billion, a P/E ratio of 13.35, a price-to-earnings-growth ratio of 1.15 and a beta of 0.59. Elevance Health, Inc. has a 52 week low of $273.71 and a 52 week high of $559.95. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.44 and a current ratio of 1.44.

Elevance Health (NYSE:ELV - Get Free Report) last released its earnings results on Thursday, July 17th. The company reported $8.84 EPS for the quarter, missing the consensus estimate of $9.30 by ($0.46). The firm had revenue of $49.42 billion during the quarter, compared to analyst estimates of $48.26 billion. Elevance Health had a net margin of 2.83% and a return on equity of 17.59%. The firm's quarterly revenue was up 14.3% on a year-over-year basis. During the same period last year, the business posted $10.12 earnings per share. On average, equities research analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Wednesday, September 10th will be paid a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Wednesday, September 10th. Elevance Health's dividend payout ratio (DPR) is 29.11%.

Insider Buying and Selling at Elevance Health

In other news, Director Susan D. Devore bought 1,200 shares of the stock in a transaction dated Tuesday, August 19th. The stock was bought at an average cost of $312.15 per share, with a total value of $374,580.00. Following the purchase, the director owned 3,502 shares of the company's stock, valued at approximately $1,093,149.30. This represents a 52.13% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Gail Boudreaux acquired 8,500 shares of the firm's stock in a transaction that occurred on Friday, July 18th. The shares were bought at an average cost of $286.94 per share, with a total value of $2,438,990.00. Following the completion of the purchase, the chief executive officer owned 151,020 shares of the company's stock, valued at $43,333,678.80. This trade represents a 5.96% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.29% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on ELV. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $478.00 price target on shares of Elevance Health in a report on Wednesday, June 4th. Guggenheim dropped their price target on Elevance Health from $447.00 to $360.00 and set a "buy" rating for the company in a report on Friday, July 18th. Leerink Partnrs cut Elevance Health from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 17th. Barclays raised their price target on Elevance Health from $327.00 to $373.00 and gave the company an "overweight" rating in a report on Thursday. Finally, Robert W. Baird dropped their price target on Elevance Health from $492.00 to $297.00 and set a "neutral" rating for the company in a report on Friday, July 25th. Twelve investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, Elevance Health has a consensus rating of "Moderate Buy" and an average target price of $411.06.

Elevance Health Profile

Elevance Health, Inc, together with its subsidiaries, operates as a health benefits company in the United States. The company operates through four segments: Health Benefits, CarelonRx, Carelon Services, and Corporate & Other. It offers a variety of health plans and services to program members; health products; an array of fee-based administrative managed care services; and specialty and other insurance products and services, such as stop loss, dental, vision, life, disability, and supplemental health insurance benefits.

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